12.12.2015, 01:20
Husky Energy Lowers Break Even to Sub-USD 40 US WTI
OREANDA-NEWS. Husky Energy continues to build on its resilience with a focus on growing profitably and further lowering its cost structure.
"Five years ago, Husky set out its balanced growth strategy, which included a deliberate decision to remain diverse, physically integrated and transition into a low sustaining capital business," said CEO Asim Ghosh.
"We continue to reap the benefits of the changes we have implemented. We have substantially lowered the Company's earnings break-even point for USD WTI oil from the mid-$50s last year to the low $40s today and the sub-$40s by the end of 2016. At the same time, we have reduced our sustaining and maintenance average costs by 15 to 20 percent, which means we can now do more with even less.
"Looking to the future, our rich and diverse portfolio offers many opportunities for profitable growth, assuming current market conditions, and continued lowering of our earnings break-even price."
"Five years ago, Husky set out its balanced growth strategy, which included a deliberate decision to remain diverse, physically integrated and transition into a low sustaining capital business," said CEO Asim Ghosh.
"We continue to reap the benefits of the changes we have implemented. We have substantially lowered the Company's earnings break-even point for USD WTI oil from the mid-$50s last year to the low $40s today and the sub-$40s by the end of 2016. At the same time, we have reduced our sustaining and maintenance average costs by 15 to 20 percent, which means we can now do more with even less.
"Looking to the future, our rich and diverse portfolio offers many opportunities for profitable growth, assuming current market conditions, and continued lowering of our earnings break-even price."
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